INSURANCE COMMISSION 194D
This query is : Resolved
05 August 2025
SIR MY QUARY I RECEIVED COMMISSION FROM INSURANCE RS.20 LACS CAN I PROFIT SHOWING 7 LACS OR NOT
06 August 2025
The commission income cannot be declared under presumptive assessment. You need to maintain proper books of accounts with all the credit debit bill/vouchers. The net profit can be 7 lakhs or even lower based on the records.
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